Vanilla Beans Prices Dropping for 2019 but still above the Psychological USD450 mark
Gourmet Grade A Uganda Vanilla Beans 2019
The price of top-quality Madagascar vanilla beans has fallen to between $475 and $500 per kilogram from a high last year of $600, resulting in an overall 10% to 15% drop across all grades of the product, according to Food Business News.
Still the current price decline may not be coming fast enough for food and beverage manufacturers who have the option of using less-expensive natural flavor alternatives to reduce or replace vanilla, the publication noted.
"We continue to see new product launches that highlight vanilla extract as an ingredient, both in North America and globally, likely because vanilla extract is a familiar ingredient and a staple in most U.S. pantries,” Jenna Baker, marketing manager at ADM, told Food Business News. “It fits perfectly with the movement to clean and clear labels.”